Groestlcoin (GRS) is a Proof of Work cryptocurrency launched on March 22, 2014 that uses the Groestl hash function — a finalist in the NIST SHA-3 competition developed by cryptographers Søren S. Thomsen and Lars R. Knudsen — as its mining algorithm instead of SHA-256 (Bitcoin) or Scrypt (Litecoin), making it resistant to Bitcoin and Litecoin ASICs and mineable with consumer GPU hardware, notable for being among the first cryptocurrencies to successfully activate SegWit (Segregated Witness) in January 2017 — months before Bitcoin — demonstrating the upgrade’s feasibility, and for maintaining near-zero transaction fees (~$0.0001) with a 1-minute block time.
| Stat | Value |
|---|---|
| Ticker | GRS |
| Price | $0.02 |
| Market Cap | $1.87M |
| Circulating Supply | 89.86M GRS |
| Max Supply | 105.00M GRS |
| All-Time High | $2.74 |
How It Works
- Groestl hash function — Groestlcoin’s mining algorithm uses Groestl, a sponge-based hash function selected as a SHA-3 finalist by NIST. It is designed to be memory-hard and compute-intensive in a way that strongly favors GPU mining over ASIC mining — unlike Bitcoin’s SHA-256, which is dominated by SHA-256 ASICs.
- SegWit — Groestlcoin activated SegWit on January 19, 2017, making it one of the earliest cryptocurrencies to implement Segregated Witness. SegWit separates signature data from transaction data, increasing effective block capacity and enabling second-layer protocols like Lightning Network.
- Lightning Network — Groestlcoin has a functioning Lightning Network implementation, enabling instant micropayments with near-zero fees. Groestlcoin’s LN is one of the more mature LN deployments among altcoins.
- 1-minute block time — Blocks are targeted at 1-minute intervals (vs. Bitcoin’s 10 minutes), resulting in faster initial transaction confirmations (though the security guarantee per block is proportionally lower).
- Near-zero fees — Groestlcoin transaction fees are extremely low (~0.0001 GRS minimum standard fee), suitable for micropayments.
- Bitcoin protocol porting — The Groestlcoin team has historically been rapid at porting Bitcoin Core improvements (SegWit, Taproot, etc.) to the GRS codebase. Groestlcoin often activates Bitcoin protocol features before Bitcoin itself.
Tokenomics
| Parameter | Value |
|---|---|
| Ticker | GRS |
| Max Supply | ~105,000,000 GRS |
| Launch | March 22, 2014 |
| Block time | 1 minute |
| Block reward | Started at 512 GRS, halves every ~10.5 months, now very small |
| Algorithm | Groestl (NIST SHA-3 finalist) |
Use Cases
- GPU mining — Mine GRS with consumer-grade GPUs without ASIC competition.
- Micropayments — Near-zero fee transactions, Lightning Network enabled.
- Privacy (Samourai-GRS) — Some privacy wallets support GRS for improved coin mixing.
- SegWit/Lightning testing — Used by developers as a test network for SegWit and Lightning implementations.
History
- 2014-03-22 — Groestlcoin mainnet launches. No premine, no ICO, no developer fund. Created by a pseudonymous developer (BurgerMAN/Gruve).
- 2014-2016 — Small but dedicated mining community. GPU-mineable design attracts hobbyist miners. Low price and low profile.
- 2017-01-19 — Groestlcoin activates SegWit. This makes GRS one of the first cryptocurrencies with working SegWit, months before Bitcoin (which activated SegWit in August 2017). Groestlcoin’s SegWit activation was cited by Bitcoin SegWit proponents as proof the upgrade was viable.
- 2017 — Bull market. GRS price rises significantly. The SegWit first-mover status attracts attention. Lightning Network (GRS LN) becomes one of the most mature altcoin LN deployments.
- 2018 — Groestlcoin added to Trezor, Ledger, and other major hardware wallets. Samourai Wallet (privacy-focused Bitcoin wallet) adds GRS as a supported coin.
- 2018-2019 — Bear market. Price declines. Development continues — Groestlcoin team ports Taproot, Schnorr signatures, and other Bitcoin improvements to GRS.
- 2021 — Bull market. GRS listed on more exchanges. Taproot activated on GRS before Bitcoin’s November 2021 Taproot activation.
- 2022–2024 — Continued development at steady pace. GRS remains one of the most technically up-to-date Bitcoin-derived altcoins, consistently adopting Bitcoin protocol improvements early. Community is small but technically engaged.
Common Misconceptions
“Groestlcoin is ASIC-proof forever.”
No PoW algorithm is permanently ASIC-proof — manufacturers have economic incentive to build ASICs for profitable algorithms. Groestl is harder to ASIC-optimize than SHA-256 due to its memory requirements, and the economics are less attractive given GRS’s smaller market cap. As of 2024, dedicated GRS ASICs have not been commercially deployed, but this is an economic rather than cryptographic guarantee.
“First SegWit = first major Bitcoin improvement.”
SegWit was important for Groestlcoin’s history and contributed to the Bitcoin SegWit debate. However, Groestlcoin is not “ahead of Bitcoin” in any fundamental technical sense — it is a different network that has adopted the same code improvements, often earlier due to smaller governance complexity.
Social Media Sentiment
Groestlcoin is a small, technically dedicated community that emphasizes protocol correctness and Bitcoin-compatibility. It is sometimes called “the most up-to-date Bitcoin clone” for its rapid adoption of Bitcoin Core improvements. The project has no flashy marketing, no VC backing, and no controversial on-chain politics. It is occasionally referenced in developer discussions about SegWit history and Lightning Network implementations. Price performance has been modest relative to higher-profile coins.
Last updated: 2026-04